Sweden Pet Insurance Market Outlook 2027F

Sweden Pet Insurance Market Outlook 2027F

The report provides a comprehensive analysis of the potential of Sweden Pet Insurance Market. The report covers an overview and genesis of the industry, market size in terms of insurance coverage.

Its market segmentations includes by type of Pet (Dog, Cat, Others), by Mode of distribution ( Agency, Broker, Bancassurance, Direct). The report includes Porter’s five force analysis, growth enablers, recent trends & developments, pain points & solutions. The report concludes with future market projections of each market segmentation and analyst recommendations.

Market Overview:

According to Ken Research estimates, the Sweden Pet Insurance which grew at a CAGR of 9.2% from 2017-2022 & is forecasted to grow at a CAGR of 8.6% from 2023-2027F owing to increasing pet adoption, high veterinary costs, rising pet health issues and awareness among pet owners.

High insurance penetration rates, growing pet humanization, sophisticated product offerings by players involved are the major trends and developments in Sweden Pet Insurance Market.

Approximately 15% and 21% of the households own at least one dog or one cat respectively in Sweden basis the data reported by European Pet Food Industry Federation

Key Trends by Market Segment:

By Type of Pet: Dogs account for the highest proportion in Sweden Pet Insurance Market. Cats are the second most popular pets in Sweden because they are low-maintenance. They don’t require formal training and are able to take care of basic self-cleaning. They account for 41.1% of the total premiums collected.

By Type of Distribution Mode: Agencies are the most preferred mode of distribution in Sweden with a lion’s share in 2022. This is because agencies have a direct relationship with animal owners and hence, pre and post-sale services remain intact.

Competitive Landscape

Sweden Pet Insurance Market is highly consolidated with 10-15 key players operating in the market. Moreover, Agria and Folksam are the top players followed by IF Skadeförsäkring and Sveland. Increasing pet ownership, veterinary costs and pet related health issues are some of that factors driving growth.

Future Outlook



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